FedBid and the Air Force came to an agreement to end the reverse auction company's stay from bidding on new contracts. FedBid must implement and maintain a code of business and ethics conduct program and have a third party report on its efforts for a year. Additionally, Ali Saadat, the founder and former CEO of FedBid, resigned on Feb. 5.

The General Services Administration and the National Oceanic and Atmospheric Administration plan to release major IT and services solicitations in the coming month. The draft RFPs are part of the broader effort to change the government's approach to acquisition.

Over five years, Air Force has beat the independent cost estimates in its acquisition programs by a collective $2 billion, according to the service's assistant secretary for acquisition. Some of the savings have been returned to the Air Force's top line, but acquisition managers have been allowed to plow some of the money back into their own programs.

The Air Force is celebrating $2 billion of savings. The concept of "should cost" management was a key component of the first version of DoD's Better Buying Power program when it was first rolled out almost five years ago. But the Air Force's acquisition chief says the concept of "should-cost" has helped his department cut program costs by about $2 billion over the last several years. Federal News Radio DoD Reporter Jared Serbu has the story.